Posted at 8:00 a.m.
Five Cascades executives have just bought nearly $1 million worth of shares in the Kingsey Falls paper company.
Co-founder and executive chairman Alain Lemaire single-handedly purchased $600,000 worth of stock on May 13. On the same day, CEO Mario Plourde bought for nearly $100,000 before buying for nearly $70,000 more on May 17.
The chief financial officer, Allan Hogg, for his part bought a block of 5,000 shares on May 13. Two board members, Nelson Gentiletti and Elif Lévesque, bought blocks of 3,000 and 5,900 shares respectively this week.
The action of Waterfalls hit a 52-week low in Toronto on May 12.
BMO sided with the NC Start of the week. Analyst Fadi Chamoun now recommends buying the title of the Montreal rail carrier. In a note released on Tuesday, he justifies his decision to suggest buying now, believing the stock market downside potential to be limited, while the upside potential is “very attractive” at the current price. The title could be worth $190 to $200 in two or three years, he believes. “A deeper stock market pullback is clearly possible if valuation multiples continue to contract, but CN should do well on a relative basis due to efficiencies that will support earnings.” »
Mutual fund manager Fidelity has just brought back its investment in Dollarama more than 10% of the outstanding shares. The purchase of a block of shares worth approximately $30 million on the 1er April is the transaction that caused Fidelity to file a May 10 statement with regulatory authorities.
PHOTO SEAN KILPATRICK, THE CANADIAN PRESS
Rogers should discuss with Quebecor to sell him Freedom Mobile.
The network sharing agreement announced Thursday between Telus and Globalive will encourage Rogers to discuss with Quebecor to sell him Freedom Mobile, believes analyst Jeff Fan of Scotia. “Unless Rogers is forced by regulators to sell Freedom to Globalive [pour rendre l’acquisition de Shaw acceptable], Rogers is unlikely to be willing to do so. If so, it would be 3 to 1 for investments in the network [en ajoutant Globalive] because Bell and Telus already have a network sharing agreement. »
A member of the management team of Power Corporation has just purchased over $215,000 worth of shares in the Montreal financial conglomerate. Executive Vice-President Claude Généreux bought a block of 6,000 shares on May 13 at a unit price of $35.95.
The action of Dollarama has lost about 15% of its value since peaking last month. TD analyst Brian Morrison told clients on Friday that a decline of this magnitude has “typically” represented an opportunity to accumulate shares of the Montreal retailer. “It is once again the case,” he said. Dollarama will release its year-end results on June 8.
An administrator of Couche-Tard has just bought nearly $120,000 worth of shares in the Laval convenience store chain. Éric Boyko bought a block of 2,000 shares on May 13 at a unit price of $58.62.
The two main leaders of Therapeutic Knight bought more than $300,000 worth of shares in the Montreal pharmaceutical company this week. Founder and Chairman Jonathan Goodman bought 40,000 shares on Wednesday, while CEO Samira Sakhia bought 19,305 shares on the same day.
The Quebec titles of Saputo, TFI, Logistec, Xebec and Lassonde all hit 52-week lows in Toronto this week.
The Toronto Stock Exchange will remain closed on Monday to mark the holiday of Victoria Day (Journée nationale des patriotes in Quebec).